Sunday, September 23, 2012

S&P 500 - September 23, 2012

Weekly TopFinder curve is around 75%




Nearby support is around the 1445 and then the 1435 area


Stronger support is in the 1400-1415 area




I would like this current upswing to run full (or near full) duration of its TopFinder curve, but, if it can't, I would then like to see whatever pullback or consolidation to stay comfortable above 1400-1415 area

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If you are unfamiliar with TopFinder (or any other MIDAS curve(s)) or if you are under any impression that there is anything magical or oracle-like to MIDAS curves, and yet want to know more about them, I suggest you take some time and read freely available Paul Levine's material on the subject and realize that it's all about characterizing the behavior of a trend and there is nothing of absolute certainty about the future that these curves can offer. Always remember than only the delusional know the future for sure ;-)

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